A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, APPROVING, FOLLOWING SECOND READING/PUBLIC HEARING, A DEVELOPMENT AGREEMENT AS AUTHORIZED UNDER SECTION 118-4 OF THE CITY CODE, AND SECTIONS 163.3220 – 163.3243, FLORIDA STATUTES, BETWEEN THE CITY AND SERVITAS, LLC (THE “DEVELOPER”), WHICH DEVELOPMENT AGREEMENT DELINEATES CONDITIONS FOR THE DEVELOPMENT OF THE CITY-OWNED PROPERTY LOCATED AT 224 23RD STREET, THE CURRENT SITE OF A SURFACE PARKING LOT (THE “PROPERTY”), FOR THE COLLINS PARK ARTIST WORKFORCE HOUSING PROJECT, A PROPOSED DEVELOPMENT CONTAINING (1) RESIDENTIAL WORKFORCE HOUSING UNITS, FOR ARTISTS, TEACHERS, AND OTHER INCOME-ELIGIBLE TENANTS; (2) DORMITORY HOUSING, INTENDED FOR USE BY MIAMI CITY BALLET, INC. (THE “BALLET”), TO SUPPORT THE BALLET’S DANCE EDUCATION AND OTHER PROGRAMS OR, IF AGREEMENT WITH THE BALLET CANNOT BE REACHED, ADDITIONAL WORKFORCE HOUSING UNITS; AND (3) GROUND FLOOR RETAIL OR CULTURAL SPACE, WITH THE BUILDING CONSTRUCTED ON THE PROPERTY TO BE LIMITED TO A MAXIMUM HEIGHT OF 75 FEET (COLLECTIVELY, THE “PROJECT”); FURTHER, MEMORIALIZING THE CONDITIONS FOR THE CITY’S LEASE OF THE PROPERTY TO COMMUNITY FINANCE CORPORATION, A NOT-FOR PROFIT CORPORATION, OR AN AFFILIATE THEREOF, FOR THE DEVELOPMENT, FINANCING, CONSTRUCTION AND OPERATION OF THE PROJECT (THE “LEASE”), WITH THE LEASE SUBJECT TO AND CONTINGENT UPON APPROVAL BY THE PLANNING BOARD AND THE CITY COMMISSION, PURSUANT TO SECTION 1.03(B)(4) OF THE CITY CHARTER; AND FURTHER, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE FINAL AGREEMENT.